Re: How to control your emotions while trading?👨🏼‍💻

Quote from: coinmatics on October 10, 2019, 10:31:36 AM

One of the most popular emotions among traders is a notorious fear of missing out,
or simply FOMO, which picks when the market is high.📈
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Watching the price of an asset soaring higher and higher, while out of the deal,
a trader often feels even worse than in case of losses.⚠️
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So, what exactly can you do to prevent emotion-connected issues?
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Accept the fact that you cant buy at the lowest and sell at the highest prices;☝🏻
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Dont be looking at the charts all the time;❌
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Use a trading plan ruling how to deal with profits and losses;📝
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Follow your own plans, dont compare your results with results of other traders too often.👨🏼‍💼

Trying to be calm would be the first step tocontrol your emotions while trading in order to avoid risky decisions. But it is not thay easy especially at times like this wherein the cryptomarket is showing extreme volatility. In order to be calm, think of what happened before. The market value was very low way back 2010 and also, how high the market prices became last 2017. This simply implies that there would always be a tendency for the market to recover no matter how bad the situation become.